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Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $94.04, moving -3.88% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.43%.
The stock of gold and copper miner has fallen by 12.34% in the past month, lagging the Basic Materials sector's loss of 3.56% and the S&P 500's loss of 1.34%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $2.25, reflecting a 57.34% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.19 billion, indicating a 16.38% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.91 per share and revenue of $27.25 billion, which would represent changes of +43.83% and +20.2%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.93% higher. As of now, Newmont Corporation holds a Zacks Rank of #1 (Strong Buy).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 9.88. For comparison, its industry has an average Forward P/E of 9.01, which means Newmont Corporation is trading at a premium to the group.
We can additionally observe that NEM currently boasts a PEG ratio of 1.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold was holding an average PEG ratio of 0.88 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $94.04, moving -3.88% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.43%.
The stock of gold and copper miner has fallen by 12.34% in the past month, lagging the Basic Materials sector's loss of 3.56% and the S&P 500's loss of 1.34%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $2.25, reflecting a 57.34% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.19 billion, indicating a 16.38% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.91 per share and revenue of $27.25 billion, which would represent changes of +43.83% and +20.2%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.93% higher. As of now, Newmont Corporation holds a Zacks Rank of #1 (Strong Buy).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 9.88. For comparison, its industry has an average Forward P/E of 9.01, which means Newmont Corporation is trading at a premium to the group.
We can additionally observe that NEM currently boasts a PEG ratio of 1.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold was holding an average PEG ratio of 0.88 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.